Keudell/Morrison Trims FLXR Position in Routine Q1 Rebalancing

Keudell/Morrison Wealth Management has reduced its exposure to the TCW Flexible Income ETF (FLXR), selling approximately 84,620 shares during the first quarter. According to an SEC filing dated April 20, 2026, the transaction was valued at roughly $3.4 million based on average closing prices for the period. While the sale may appear significant in isolation, it represents a minor adjustment to a larger strategic position. FLXR continues to be one of the firm's primary holdings, serving as a key component of its income-generating strategy. Following the trim, Keudell/Morrison still holds over 1.1 million shares of FLXR, valued at approximately $43.2 million. This position makes the ETF the second-largest holding in the portfolio, trailing only the Schwab US Dividend Equity ETF (SCHD), which is valued at $47.0 million. The scale of the remaining holding suggests that the firm is not exiting the position but is instead managing its weight. The adjustment likely reflects routine portfolio rebalancing. Over the last year, FLXR returned 7.6%, a respectable figure for a fixed income fund, though it lagged the S&P 500 by 27 percentage points. For a manager balancing growth-oriented equities against income, right-sizing a lagging bond-focused ETF is standard practice. With a current annual yield of approximately 5.6%, the ETF remains an attractive source of income. The firm's decision to maintain a $43 million stake indicates continued confidence in the fund's utility within a diversified portfolio.